Thai Bank Says Its Bad Loans
May Peak at About 20% in '98

BANGKOK, Thailand -- Bank of Asia PCL's nonperforming loans are expected to peak at nearly 20% of its total loans in 1998, a senior executive of the bank said.

Executive Vice President James Stent attributed the rise in nonperforming loans to deteriorating economic conditions in Thailand. He said the bank reported its nonperforming loans to be "around 10%" of total loans at the end of the third quarter, when its total loans were 125.96 billion baht ($2.75 billion). At the end of 1997, such loans will rise above...